Sec Form 4 Filing - Kennedy Brendan @ Tilray, Inc. - 2020-09-30

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Kennedy Brendan
2. Issuer Name and Ticker or Trading Symbol
Tilray, Inc. [ TLRY]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director X __ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
President and CEO
(Last) (First) (Middle)
2701 EASTLAKE AVE E, 3RD FLOOR
3. Date of Earliest Transaction (MM/DD/YY)
09/30/2020
(Street)
SEATTLE, WA98102
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Class 2 Common Stock 09/30/2020 C 8,252,161 A 11,829,627 D
Class 2 Common Stock 09/30/2020 C 158,746 A 235,160 I By: Skyline & Mayfair LLC ( 2 )
Class 2 Common Stock 10/01/2020 M 46,875 A 11,876,502 D
Class 2 Common Stock 10/01/2020 F 11,415 D 11,865,087 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class 1 Common Stock ( 5 ) 09/30/2020 C 8,252,161 ( 5 ) ( 6 ) Class 2 Common Stock 8,252,161 $ 0 0 D
Class 1 Common Stock ( 5 ) 09/30/2020 C 158,746 ( 5 ) ( 6 ) Class 2 Common Stock 158,746 $ 0 0 I By: Skyline & Mayfair LLC ( 2 )
Restricted Stock Units ( 7 ) 10/01/2020 M 46,875 ( 8 ) ( 8 ) Class 2 Common Stock 46,875 $ 0 46,875 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Kennedy Brendan
2701 EASTLAKE AVE E
3RD FLOOR
SEATTLE, WA98102
X X President and CEO
Signatures
/s/ Julia Stark, Attorney-in-fact 10/02/2020
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Each share of Class 1 Common Stock automatically converted into one share of Class 2 Common Stock in accordance with the terms of the Issuer's Amended and Restated Certificate of Incorporation.
( 2 )The Reporting Person is the sole member of Skyline & Mayfair LLC and has sole voting and investment power with respect to the shares held by Skyline & Mayfair LLC.
( 3 )Each restricted stock unit ("RSU") converted into one share of the Issuer's Class 2 Common Stock.
( 4 )Represents the number of shares withheld by the Issuer to satisfy the tax withholding obligations in connection with the vesting of the RSU.
( 5 )Each share of Issuer's Class 1 Common Stock is convertible at any time at the option of the holder into one fully paid and nonassessable share of Issuer's Class 2 Common Stock. In addition, each share of Issuer's Class 1 Common Stock will automatically convert into one share of Issuer's Class 2 Common Stock upon (1) any transfer, whether or not for value and whether voluntary or involuntary or by operation of law, except for certain transfers described in the Issuer's Amended and Restated Certificate of Incorporation, including, without limitation, certain transfers for tax and estate planning purposes, or (2) such time as the total number of outstanding shares of Class 1 Common Stock of the Issuer is less than 10% of the combined total of all outstanding Class 1 Common Stock and Class 2 Common Stock of the Issuer.
( 6 )Not applicable.
( 7 )Each RSU represents a contingent right to receive one share of the Issuer's Class 2 Common Stock.
( 8 )The remaining number of shares subject to the RSU vests quarterly at a rate of 6.25% of the total number of RSUs on each quarterly anniversary of January 1, 2017 (the "Vesting Commencement Date") for so long as the Reporting Person remains in Continuous Service (as defined in the Company's 2018 Equity Incentive Plan), such that the total number of RSUs shall be fully vested on the four-year anniversary of the Vesting Commencement Date.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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